Definitions for black gold

This page provides all possible meanings and translations of the word black gold

WiktionaryRate this definition:(0.00 / 0 votes)

black gold(Noun)

petroleum

FreebaseRate this definition:(0.00 / 0 votes)

Black gold

Black gold is a term used in the Republic of China to refer to political corruption. The term refers to the obtaining of money through a dark, secretive, and corrupt method.
The Kuomintang has frequently been criticized in Taiwan for its connections to gangsters and black gold. The party has had a long association with underground societies, and its founder Sun Yat-sen had joined the Triads to gain support for the Republican Revolution. In its early years, the KMT relied on support from organized crime, gangs, and unions and clan organizations with criminal ties in its efforts to consolidate power in war-torn post-imperial China. As a result, the party made concessions to local "crime bosses", such as the notorious Du Yuesheng in Shanghai, who were well-connected with its longtime leader, Chiang Kai-shek. During the Shanghai massacre of 1927, the KMT employed the Green Gang to exterminate suspected communists; the Green Gang also happened to be a major financial supporter of Chiang Kai-shek. The KMT's relationships with such organizations are believed to persist. KMT fled to Taiwan following the Chinese Civil War. As Minister of Justice from 1993 to 1996, former Taipei mayor and KMT Party Chairman Ma Ying-jeou is credited with attempts to fight black gold corruption and bring KMT out of corruption, and his removal from office by the KMT was widely attributed to him being too effective at fighting black gold.